AstraZeneca has unveiled plans to buy California-based ZS Pharma for $2.7 billion in a move that adds ballast to its cardiovascular and metabolic disease offering.
The transaction gives the drug giant access to the potassium-binding compound ZS-9, a potential best-in-class treatment for hyperkalaemia – a condition characterised by elevated levels of potassium in the blood linked with increased mortality in chronic kidney disease and coronary heart failure.
The drug is currently being reviewed by the US Food and Drug Administration, with an outcome expected by May 26 next year, while a submission in Europe is planned by the end of 2015. Current estimates for global peak year sales of ZS-9 exceed $1 billion, AZ said.
Under the terms of the deal, which have been unanimously approved by ZS Phama’s board of directors, AZ will acquire all of its outstanding capital stock for $90 per share in an all-cash transaction, which equates to some $2.7 billion. ZS Pharma, which has around 200 employees across three sites in California, Texas and Colorado, will then become a wholly owned subsidiary of AZ.
The transaction, which is expected to close by the end of the year, will not impact AZ’ financial guidance for 2015. The firm expects that the move will generate product sales from 2016, with minimal earnings dilution over 2016 and 2017, becoming accretive to core earnings from 2018.
Source: Pharma Times
CureVac and the University of Texas’s MD Anderson Cancer Center have announced a co-development and licensing agreement to develop novel messenger ribonucleic acid (mRNA)-based cancer vaccines. The strategic collaboration will focus on the development of differentiated cancer vaccine candidates in selected haematological and solid tumour indications with high unmet medical needs.
FUJIFILM Corporation is planning to invest $1.2 billion to expand the planned FUJIFILM Diosynth Biotechnologies manufacturing facility in Holly Springs, North Carolina, US. This news follows the organisation’s announcement of a $2 billion investment in the facility in March 2021. This additional financial boost totals the investment to over $3.2 billion, FUJIFILM confirmed.
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